Jackson Square Partners LLC Sells 8,456 Shares of Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Jackson Square Partners LLC reduced its stake in Starbucks by 18.1%, selling 8,456 shares during the first quarter, leaving them with a total of 38,243 shares valued at approximately $3.75 million.
• Starbucks reported a quarterly earnings miss with an EPS of $0.50, below the consensus estimate of $0.64, despite achieving revenues of $9.46 billion.
• The company has announced a quarterly dividend of $0.61 per share, representing an annualized yield of 2.7%, with a dividend payout ratio currently at 105.17%.

Jackson Square Partners LLC trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,243 shares of the coffee company's stock after selling 8,456 shares during the quarter. Jackson Square Partners LLC's holdings in Starbucks were worth $3,751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC boosted its position in shares of Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after acquiring an additional 89 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after acquiring an additional 97 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its position in Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock worth $93,000 after buying an additional 97 shares during the last quarter. Taurus Asset Management LLC lifted its position in Starbucks by 0.5% in the 4th quarter. Taurus Asset Management LLC now owns 21,895 shares of the coffee company's stock worth $1,998,000 after buying an additional 100 shares during the last quarter. Finally, Mendel Capital Management LLC lifted its position in Starbucks by 1.8% in the 4th quarter. Mendel Capital Management LLC now owns 5,721 shares of the coffee company's stock worth $522,000 after buying an additional 101 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on Starbucks from $88.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. BMO Capital Markets reissued an "outperform" rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. UBS Group lifted their price target on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Sanford C. Bernstein lifted their price target on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, CICC Research started coverage on Starbucks in a report on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price on the stock. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $101.27.

Starbucks Stock Down 1.3%

Shares of SBUX stock opened at $88.99 on Thursday. The stock has a market cap of $101.15 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 5.14 and a beta of 1.02. The business has a 50-day simple moving average of $91.96 and a 200-day simple moving average of $94.48. Starbucks Corporation has a 52-week low of $74.75 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the business posted $0.93 earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.7%. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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